The Affordable Care Act has made obtaining health insurance easier. Furthermore, more screening procedures and preventative healthcare have become possible as a result.
HealthSource RI offers an effective platform for shopping Obamacare plans within your budget. Simply input family details and previous year tax data and find what plan fits.
What is Obamacare?
Obamacare, or the Patient Protection and Affordable Care Act, is a set of rules and regulations that regulate how people purchase and utilize health insurance policies. It ensures you get maximum value from each premium dollar spent and that insurance companies use your premium dollars more for medical care rather than advertising, overhead expenses or bonuses to executives.
It prohibits insurers from denying coverage to people with preexisting conditions and requires large employers to provide health coverage or face penalties, while creating state and federal Marketplaces where people can shop for health plans.
It expands Medicaid to cover low-income Americans. Thanks to Obamacare, uninsured Americans have reached record low numbers while enrollment in Obamacare marketplace plans has skyrocketed.
How do I get Obamacare?
Obamacare (or the Affordable Care Act, or ACA) provides health insurance to all Americans regardless of income level, protecting consumers from insurance company tactics which increase costs or restrict care, while offering subsidies to help people afford premium payments.
Signing up for a health plan during the annual Open Enrollment Period takes place annually each fall, while qualifying life events may allow for Special Enrollment Periods as well. Finding an affordable plan using eHealth’s comparison tools is key – silver plans provide reasonable monthly premiums as well as costs related to care when needed.
Can I get Obamacare if I have a pre-existing condition?
Before health reform, individual and small group plans often denied applicants coverage or charged higher premiums due to preexisting conditions, effectively disenfranchising many. Beginning in 2014 however, these exclusions and rate adjustments became illegal under ACA-compliant major medical plans (defined by law).
As mentioned above, smoking and family size no longer influence costs, but certain policies such as short-term medical policies still have waiting periods and exclude certain conditions. To sign up for Obamacare plans you’ll need your family’s social security number and tax information from last year in order to see if subsidy assistance applies for your family.
What are the Obamacare plans available in Rhode Island?
HealthSource RI provides Rhode Islanders with access to Affordable Care Act (ACA) plans from several insurance providers, such as Blue Cross & Blue Shield of Rhode Island and Neighborhood Community Policy. All plans offered must cover 10 essential benefits with an associated deductible payment.
HealthSource RI customers who qualify are typically eligible for tax credits that assist in paying their premiums, which can be especially helpful to people with lower incomes. According to the American Cancer Society (AARP), these subsidies have helped people save an average of $800 annually through this means. Residents without an employer-sponsored plan may purchase coverage at HealthSource RI during open enrollment or when experiencing a qualifying life event.
Can I get Obamacare if I lose my COBRA coverage?
COBRA is federal health coverage designed to enable employees who have been laid off or fired from their employer to continue paying for group insurance coverage from that employer, but it can be expensive and doesn’t always meet everyone’s needs.
But if someone elects COBRA and then experiences another qualifying life event, they could switch over to Obamacare exchange/marketplace plans and receive subsidies to help afford them. They would need to wait for either annual open enrollment period or special enrollment period tied specifically to their other qualifying life event to make this change; otherwise they’ll face penalties for missing out on this subsidy opportunity.
Can I get Obamacare if I get sick or injured?
Under Obamacare, individuals pay both an ongoing monthly premium for health coverage as well as out-of-pocket costs when receiving services. Some may qualify for tax credits to assist with covering their premium costs on an exchange marketplace/marketplace; these credits may either be claimed on tax returns or directly applied as reductions in monthly premium payments (known as Advanced Premium Tax Credit).
Rhode Island’s HealthSource RI marketplace makes determining whether you qualify for subsidies much simpler by showing all of your options in one convenient place, making price and benefit comparison easier. You may enroll during limited enrollment windows such as open enrollment or when experiencing a qualifying event.
